Departures at JPMorgan, Deutsche Bank as banks downsize metals teams

Apr 24, 2013 | 02:36 PM | Mark Burton

Tags  JPMorgan, Deutsche Bank, redundancies, metals, trading, Steel First, Mark Burton

LONDON — JPMorgan Chase & Co. made some members of its metals sales desk in London redundant this past week in the latest in a series of departures from major banks and brokerages, market sources have told AMM sister publication Metal Bulletin.

Deutsche Bank AG senior options trader Russell Plackett and other members of the trading team have also left in recent weeks, market sources said April 22.

"The last time we had a string of departures like this was back in 2008," a source at a Category I brokerage told Metal Bulletin. ....

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